Davis Polk advised the international joint lead managers in connection with the initial public offering of 21,056,300 shares of common stock of KATITAS CO., LTD. The shares were sold by selling shareholders affiliated with Advantage Partners, a Japanese private investment group. In addition, the underwriters have an over-allotment option to purchase up to 1,969,000 shares. The global offering consisted of a domestic offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares are listed on the Tokyo Stock Exchange. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥37.7 billion (approximately $332.7 million).

KATITAS is a reseller of pre-owned renovated homes in Japan, focusing its procurement, renovation and resale activities in suburban areas of regional cities in Japan.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher J. Kodama and associate Alexander Coley. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.